Q & A
When does a senior citizen have to file a tax return?
Full Question: I am 85 and my income is less than $10,000 a year, not including Social Security. Do I have to file a state or federal tax return? Many of my fellow senior citizens file tax returns even though they pay no tax.
Answer: There are situations when you should file a federal or state return, or both, even though your earnings are under $10,000 a year.The 2013 federal filing requirement for most single individuals over the age of 65 is gross income in excess of $11,500, said Laurie Wolfe, a certified public accountant with Lassus Wherley in New Providence. That number is expected to increase to $11,700 in 2014, she said. Read more…
Source: Karin Price Mueller/The Star-Ledger, July 9, 2014
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